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Wio Bank: One Year of Pioneering Digital Banking in Abu Dhabi

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BNN Correspondents
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Celebrating Wio Bank's One Year Milestone

Wio Bank, a leading digital banking platform in the capital of the United Arab Emirates, Abu Dhabi, recently celebrated its first anniversary. In just one year, Wio Bank has managed to amass over 45,000 customers across its Wio Business and the recently launched Wio Personal applications. The one-year milestone was commemorated by organizing the inaugural 'Wio Business Breakfast' event at Yas Mall in Abu Dhabi. Themed around "Entrepreneurship in the Digital Age," the event drew in a multitude of industry leaders, entrepreneurs, startups, and small to medium-sized enterprises.

Discussing Digital Banking and Entrepreneurship

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The event featured a panel discussion with key industry figures sharing insights into the digital banking landscape and its impact on entrepreneurship. Among the panelists was Marwan Bin Hashem, General Manager of Wio Securities LLC, who shed light on his experiences in establishing partnerships that bolster innovation. Omar Al Busaidy, a Wio Business customer and founder of Global Possibilities, discussed the practical implications of digital banking services on entrepreneurial endeavors. Furthermore, Basma Ahmad Al Badi, Director of Growth and Strategy at Hub71, offered valuable insights into fostering growth within the startup ecosystem in Abu Dhabi.

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Empowering Entrepreneurs through Digital Banking

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Marwan Bin Hashem reflected on the event's significance, emphasizing the enormous potential of digital banking services in empowering entrepreneurs and propelling company growth. He expressed great pride in Wio Bank's role in steering the transition towards digital services and reaffirmed their commitment to support the financial aspirations of small to medium-sized enterprises both within and outside the United Arab Emirates.

Wio Bank: A Trailblazer in Digital Banking

Established in Abu Dhabi in September 2022, Wio Bank revolutionized the region's digital banking landscape by harnessing the capabilities of digital banking applications, embedded finance, and banking as a service solutions. Wio Bank, the first integrated financial platform of its kind in the region, is owned by a consortium comprising ADQ, Alpha Dhabi Holding, Etisalat, and First Abu Dhabi Bank (FAB), with an initial capital of AED 2.3 billion. The platform operates under the supervision of the Central Bank of the UAE.

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Recognitions and Achievements

Within a short span of one year, Wio Bank has garnered accolades from banking sector experts across the UAE and the region. Some of its recent awards include the Best Digital Bank in the Middle East and North Africa for 2023, the Best Neobank in the UAE, and the Most Innovative Mobile Banking App – UAE. For more information, visit the website www.wio.io.

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